Thank news weeks several you, has front Dennis. for been now. and coronavirus center The
let start are commenting respective our impact me seeing the that we businesses. on in by So
With base the have double-digit Chinese XXXX. of the pressure, metal economy since prices under fallen by end percentages
pressure and Nickel since WTI been and with down prices than XX% prices up surcharges and are gas down the year-end. by XX% between have price XX% are XX%. more Oil well under as
oversupply With the will outlook there the weakening not likely reverse that of oil for gas fundamental economy, is and near-term. a global a in
issue. materials of an metals raw supply have been not The to the units and chemical
do supplies and that We other And exposure any production our raw goals. limited shortages be detrimental overseas. are anticipate to produced to not have materials would that
China of difficulty has from for had and tonnage Munhall their tonnage facility. with have securing how additional has to increased One our European long see last. operation galvanized their We'll material this raw our customers
acid system new be in a purchased that for the coming regeneration also manufacturer We've Italy. Munhall from a operation will
delayed pickling may delivery adequate our be capacity in meantime. the meet to requirements the we have expect but We
our forecast flat we down for and in terms we much half volume year like to preparing In the marginally projected pricing experienced XXXX, second of a in of XXXX.
realized does manufacturing have cost is our structure to this XXXX exception not The the the reflect Palmer there calls and our volume operation. we to what Palmer thinking comparable accordingly. Our recession. for in forecast rationalized we At forecast
pipe customers. confirmed and anticipated been inventory has levels normalized channel. of several tube the stainless by That our distribution also steel We welded in largest
the economy, increases of However, certainly and most the domestic virus would greater the negatively a impacted. to should threat be recession a chance forecast our become
economy a In year, better in weaker instituted company XXXX. last to program QX of a we cost-cutting position industrial the for
savings effort from and reductions annual totaled for savings. reductions and savings Headcount personnel-related $X other cost-cutting $X insurance million. Material been million Xst. $X million of the Palmer fees, supply and January million and of savings in came in implemented $X as other accounted Excluding business almost balance have the professional at over
the been And report of equipment heavy we QX, is at have to that potential savings operational. wall $X.X another the I'm fully that During repairs identified pursuing. the currently completed. press are pleased in million we Bristol
during get will on balance the heavy turn a look backlog the product from this wall of and quick month started line this forward XXXX. to contribution We
the both ahead running exceeded Bookings for XXXX Metals also in forecast. have profits February Chemical the segments forecast. and are of the Metals the Segment Through
We promising unit. products the in have several development in Chemical new
questions. the We'll to call now open
